Is it short term or long term that’s the question….
I am working from a tablet right now so it is easier to put text overlay on the chart.
Between the criteria on the chart, most importantly the events of the 7am to 11am candle on Jan 10.
And the fact that short liquidations are building up indicated by on chain data.
I think it is possible BTC has found it’s low.
Another factor is that @Mihai_Iacob posted last night that he believes a retracement is in order (up to 46k zone). I find his analysis to be clear and un biased. He has much more experience than I and doesn’t trade or do analysis for only crypto. Linked here below.
All told the selling pressure has slowed, we are approaching an hour where volume typically picks up (11am) and BTC is showing major signs of recovery/health added up with short liquidations i think we may have a recovery in the cards.
Let’s stay patient and keep watching, I would like to see the asset close above $46000 and show a strong retracement vs the weak ones that have been happening lately.
Will keep watching and keep this idea updated.
Check out the repost I did of @Mihai_Iacob ‘s idea below.
Good luck! Remember to be cautious when trading and set take profit and stop loss.
I am working from a tablet right now so it is easier to put text overlay on the chart.
Between the criteria on the chart, most importantly the events of the 7am to 11am candle on Jan 10.
And the fact that short liquidations are building up indicated by on chain data.
I think it is possible BTC has found it’s low.
Another factor is that @Mihai_Iacob posted last night that he believes a retracement is in order (up to 46k zone). I find his analysis to be clear and un biased. He has much more experience than I and doesn’t trade or do analysis for only crypto. Linked here below.
All told the selling pressure has slowed, we are approaching an hour where volume typically picks up (11am) and BTC is showing major signs of recovery/health added up with short liquidations i think we may have a recovery in the cards.
Let’s stay patient and keep watching, I would like to see the asset close above $46000 and show a strong retracement vs the weak ones that have been happening lately.
Will keep watching and keep this idea updated.
Check out the repost I did of @Mihai_Iacob ‘s idea below.
Good luck! Remember to be cautious when trading and set take profit and stop loss.
